Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.
Is Apple Pay Safer than Zelle?
Lisa from Washington: “I’ve been using Zelle for years now, and I am freaked out. Is Apple Pay a safe alternative?”
Clark’s Take on Whether Apple Pay Is a Safe Alternative to Zelle
Clark says: “It’s a different kind of tool, but Apple Pay is a well-thought-out safe alternative.”
It’s no wonder that a user may be “freaked out” using Zelle. Inside the Zelle app, there is no way to request a refund. You can cancel a payment only if the recipient is not enrolled in Zelle.
Not only is Apple Pay a safe alternative to Zelle, but there are some key differences between the two.
Apple Pay vs. Zelle: Key Differences
| Apple Pay | Zelle |
| Owned by Apple | Owned by Early Warning Systems LLC, a consortium of big banks |
| Allows payment to merchants and peer-to-peer payment through the Apple Cash feature | Payment app allows peer-to-peer payment only |
| Payments can take a day or so to process | Instant payments |
If you do use Zelle, Clark recommends that you use it only when paying someone you know, due to the payment app’s limited protections.
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